UK equity firm quits Turkish hospital sale talks

Dubai, July 1, 2013

London-based private equity firm Pamplona Capital Management has dropped out of talks to buy a controlling stake in Turkish hospitals group Medical Park, five banking and industry sources aware of the matter told Reuters on Monday.

Medical Park, one of the largest hospital chains in Turkey, was put up for sale by U.S. private equity firm Carlyle and its two individual shareholders last year, with investment banks Goldman Sachs Inc and Credit Suisse managing the process.

Talks have dragged on, however, with differences over the valuation of the business and its ownership structure complicating any potential sale, the sources said, speaking on condition of anonymity as the matter is not public.

Pamplona entered into exclusive talks for the business earlier this year after discussions with other private equity firms such as Texas Pacific Group (TPG) did not result in a deal.